“A deal that isn’t written down isn’t a real deal,” Senator Ron Wyden, Democrat of Oregon, said in a statement.
Structural Issues
Longstanding concerns about Chinese economic policies that put American companies at a disadvantage do not appear to have been addressed.
These policies, which are often called “structural issues,” include China’s generous subsidies to certain companies, the outsize role of the government in the economy and its systematic discrimination against foreign firms. In particular, the Trump administration has often criticized Beijing’s ambitious plan to dominate cutting-edge technologies like advanced microchips, artificial intelligence and electric cars, called Made in China 2025.
China has fiercely resisted any American demands that it sees as efforts to interfere with how it runs its economy. Negotiators have discussed some measures, like requiring China to disclose more information about how it subsidizes its industries, and people familiar with the talks say such talks will continue. But American officials made no mention of these issues with regard to the initial agreement.
Nonfarm Products
The agreement also excludes provisions related to the manufacturing sector. And it appears to allow China to retain, for now, its high tariffs on American-made cars.
That is notable, because nonagricultural goods — including cars, car parts and aircraft — account for both the bulk of American exports to China and the very large American trade deficit with China that Mr. Trump has criticized.
Mr. Trump tweeted on Saturday that the deal would include $16 billion to $20 billion in purchases of Boeing planes, but American officials have not shared any other details.
Article source: https://www.nytimes.com/2019/10/15/business/economy/china-trade-deal.html?emc=rss&partner=rss
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